Jason Butler, Author at Dinks Finance

About Jason Butler

Jason Butler is an Atlanta native, as well as businessman, blogger and teacher. Not only is Jason a prolific flipper, marketer, writer and side hustler his number of years in higher education and student support have given him expert knowledge in understanding the economics of the student loan industry.

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Stock Market Tips For Beginners

Posted on August 26, 2016 - 6:30 am by Jason Butler 3

investment tips, investment advice, stock market tips

The stock market has made people millions of dollars over the years. People have also lost their life saving due to horrible stock advice. If you’re planning on getting into the stock market game, you should make sure you know what you’re doing. In this post, I will be going over some stock market tips for beginners. Who knows, you could become the next Gordon Gekko.

Don’t invest more than you can afford to

The first tip is never to invest more money than you can afford to lose. Don’t be foolish because you may think you have found a lucky stock. If you can’t afford to invest, don’t do it. Money markets are something that you should check out if you don’t want to risk too much. Money market investing can be done through individual accounts or as a part of a pool in a money mutual fund. Money markets are very safe investments, but they yield the lowest returns.

Risks

The more money that you have to invest, the greater your chances of taking risks will be. Try not to make any crazy risks, though. As a beginner, it is good to invest in what you know. If you are familiar with a product or company, you should research them. If their stock is doing good, you should invest your money with them.

You also have to ask yourself how much money you’re willing to risk. Can you risk $500 or can you afford to risk $5000? There is no right or wrong answer. Every single person has different amounts they can risk.

Long term

While short-term wins are great, the stock market should be for long term investing. Everyone is not cut out to become a day trader. The best thing for beginners is to stick with your stocks for the long haul. Take advantage of what you already know about the company. From there, make the decision to invest or not. The main thing to remember is that you’re investing for the long term. Your goal is to see growth over time. If you make a good choice, I’m sure you will be doing good a few years down the road.

The stock market isn’t a get rich scheme. You should not buy and sell stocks too often. You will never make any real money by doing that. You would have a better chance of flying to Las Vegas and winning at blackjack than buying and selling stocks that you really don’t understand as a beginner.

Understand the basics

When beginning with the stock market you need to make sure you know the basics. Learn the jargon. The stock market has a lot of terms. A few that you should be aware of are bear market, broker, dividend, exchange, hedge, IPO, portfolio, rally, and volume. You should also understand the stock market order types, the financial metrics and definition and the methods of stock selection and timing.

The stock market is a great place to grow your money for the long-term. Your return will be better than it would be if it just sat in your bank account. When getting stocks, make sure that you research and make good decisions.

5 Part Time Jobs That Will Help You Make Extra Money

Posted on August 24, 2016 - 6:30 am by Jason Butler 1

part time jobs, side hustle, extra income

Making extra money is something that a lot of people want to do. Whether they are paying off debt or saving for a trip, extra money comes in handy from time to time. In the past, I’ve discussed different ways to make extra money doing things like blogging or selling stuff on eBay. Today, I want to go over five part-time jobs that you can do to make extra money.

Restaurant Server

The first job that you can do to make extra money is to become a restaurant server. If you have a 9-5 gig, working on the weekends at a restaurant will be perfect for you. Weekends are usually the busiest time at most restaurants anyway, so you can probably make close to $100 a shift. If you work at a top tier restaurant, you may be able to bring in close to $300 each day.

Car Valet

The next job that will help you make extra money is to become a car valet. This is another job that can be done on the weekends or weeknights after work. Valets get paid by the hour plus they earn tips. The amount of money that you can make depends on where and who you’re valeting for. Certain hotel brands may be good to work for.

Bartender

The third job on the list is to become a bartender. If you know your alcohol and know how to mix drinks, you will always be able to find a part-time job. I have several friends who have been bartenders over the years. They can make hundreds of dollars on Friday and Saturday nights. If they decided to do private events, they could make even more money. The better the drinks are, the more tips that the bartenders can get.

Retail

Working retail is the fourth job on the list. Many retailers are flexible with their hours, so they allow some people just to work on weekends. Retail positions are very popular around the holiday season. Those businesses are looking for as much help as they can get. I’ve worked retail as a part-time job before. While you won’t make as much as you can as a server or bartender, it’s still a very easy job.

Part-time driver

Driving part-time is the last thing on the list. It’s not technically a job, but you can make a lot of money driving part-time with Uber or Lyft. I have a friend who used to drive for Uber. She would make about $300 a week driving for them part-time. That’s not bad for working 15-20 hours each week.

Those were five jobs that you can do to make extra money. There should be no complaining if you are making enough cash at your full-time position. There are options out there for you to earn more. Some of these jobs may pay more than others, but you should find one that you like. Figure out which one works for you and start bringing in this extra money.

What have you done to make extra cash?

What to do if Your Emergency Fund is Deplenished

Posted on August 22, 2016 - 6:30 am by Jason Butler 2

emergency funds tips, emergency funds advice, emergency funds talk

In life, things happen that we can’t control from time to time. Your refrigerator may stop working, or your car might need a new water pump. The good thing is that you have an emergency fund. You were prepared. You didn’t have to go into debt to get those things fixed. The bad thing is that your emergency fund is now depleted. You are basically at zero and have to start over. Today, I want to share with you a few tips that you can do to get your emergency fund back on track.

Assess the situation

The first thing that you should do is assess the situation. How much money did you spend? Do you want the same amount in the emergency fund or do you want to put more in there? In a time like this, you should have a level head and think about how much you want in your new emergency fund.

Get focused

The next thing that you need to do is get focused. You have figured out the amount that you want to have in the emergency fund. Now is the time for you to get focused. How do you expect to make the money for you emergency fund? When do you want to have it replenished? Are you ready to sacrifice? Depending on when you want to have your emergency fund replenished, you may have to change some things for a little while. You may have to get a part-time job on the weekends. You might also have to change your budget up for a few weeks until you get your emergency fund full again.

Time to hustle

It’s time to get your hustle on. Side hustles are a way that can help you get your emergency fund goal quicker. There are hundreds of side hustles that you can do to generate extra money. Washing cars, selling things on Craigslist, doing yard work and filling out surveys are a few of them. One of the side hustles that I did to help me make money for my emergency fund was to sell things on eBay. By doing that, I was able to save the amount that I set for myself much sooner than I had planned to.

Save the money

Now that you have figured out a side hustle that you like don’t forget to save that money and deposit it into your emergency fund. For a split second, you may see that extra money coming in and want to spend it on something or use it to pay off debt. Don’t do it. Remember, your plan is to get your emergency fund replenished again. Don’t use that money for anything else.

An emergency fund is vital for anyone. Things happen. It is always good to have that money as a cushion. Having an emergency fund can keep you out of debt. If you have to use yours, remember that you can replenish it again. If you’re focused and ready to work, it can be full sooner than later.

How to Work Effectively With Others

Posted on August 19, 2016 - 6:30 am by Jason Butler 1

For those of us that still work a 9-5 job, I’m sure we all have one of two coworkers that may not have the best attitude and for that reason, we might not get along with them. I can remember a few occasions like that in the past. Thankfully, at my current job most of the people are pretty friendly and down to earth. I know that’s not the case for everyone. As adults, we have to find a way to work effectively with everyone at your job. It might not be the easiest thing to do, but it can be done. It just takes a takes a little practice and a few tips.

Remember that everyone has a job

Everyone has their own job. At the start of a new job, you should learn what your duties are and what they are not. I hate to say it, but there are some lazy people out there. They will try to get you to do their work if you’re not careful. Knowing your job description will give you a little of leverage if you think that someone is trying to get you to do something that you don’t believe is in your description.

Attitude

Having a great attitude can go a long way. At my current job, there were a couple of people telling me to watch out for certain managers because they were mean and not fair to the workers. One thing that I’ve learned since I’ve been working is to take some people’s advice with a grain of salt. You have to make your own opinions. I went to work (and still do) with a positive everybody. I haven’t had any problems with the so-called “mean” managers. I think that has to do with my attitude. I realize that I’m at work to get a job done. Complaining that it’s too busy or that some of the processes make no sense would alter my attitude and in turn, affect my work effort.

Something else that I realized is that people can sense someone with a bad attitude from a mile away. Those types of people are difficult to work with. People aren’t going to always agree with their job or coworkers, but it’s best to accept what is going on. You should be happy that you have a job and is getting paid.

Make sure boundaries are set

Boundaries must be set early on in the workplace. Communication is essential when it comes to getting along with others at your job. After you’ve learned your duties and responsibilities, you can set those boundaries. This will come in handy if a coworker tries to get you to do their work because they are lazy. There is nothing wrong with helping a colleague out from time to time, but some people will take your kindness for weakness. Don’t let that happen to you.

You can work efficiently with others in the workplace. For the most part, I haven’t had that many problems working with people. Most of my coworkers have been complete professionals. If you are at a job where you are not working the best with others, make sure you follow these tips. If you do, I’m sure things will change for the better.

Being Productive Throughout The Day

Posted on August 17, 2016 - 6:30 am by Jason Butler 2

being productive, productivity tips, how to be productive

Hello, Dinks. Productivity is something that some of us master while others never seem to conquer it. I know people that seem to get 20+ things accomplished in one day. I also know individuals who don’t get anything done. They try, but for some reason, they appear to be stuck. Today, I want to go over some things that will help you become more productive throughout the day.

Rest

The first thing that will help you to get productive during the day is to get a good night’s rest. If your significant other is a night owl, try to get them to go to bed a little earlier. Sleep is good for you. It helps to keep you healthy, and it makes you more alert. By being more alert, you will be able to get up the next morning and get the day started instead of just dragging through it.

Plan

I am a huge planner. I have a to-do list and stickies all over my apartment. Planning helps you organize your day. There are so many things that can be planned including:

Picking out your outfit. You can do this the night before.
Your meals for the week. Meal prepping is very popular at the moment. A lot of people plan and cook their meals for the week every Sunday. I’ve done a little meal planning in the past, but I have gotten lazy. It did save me some time by doing that. I was able to do other things instead of cooking or going to restaurants since I already had food ready.

Planning is a large key to being productive. Without it you won’t get much done.

Eat right

Believe it or not, eating the right foods will help to keep you productive. Healthy foods such as fruits and veggies will energize you. Junk food won’t do that. It will have you feeling lethargic. That is bad for your productivity. Instead of getting things done, you will be going through the motions or just relaxing on the couch most of the day. To be productive, you can’t afford to let that happen. Make sure you eat the right food.

Taking a break

Taking a break or two is another key to being productive. Time away from whatever you’re working on can be good for you. It will give you a chance to relax and come back to it feeling better. Try going outside for a breath of fresh air or a quick walk. Doing that helps me when I’m having problems focusing on something. I’m not sure what it is, but taking a break by going outside always gets me refocused.

In summary, the ways to be productive are to get enough rest at night, plan your days, eat the right foods and to remember to take a break. If you’re having trouble being productive, try some of these tips. I’m sure you will see a change in your productivity in a few short days.

What do you do to stay productive?

Last Minute Financial Aid Tips For Non-Traditional Students

Posted on August 15, 2016 - 6:30 am by Jason Butler 2

financial aid tips, financial aid advice, non-traditional students financial tips

It seems like more and more people are going back to school to either finish their degree or to get another one. Non-traditional student populations are on the rise all over the country. With many non-traditional students having not been in school for years, I want to go over a few last-minute financial tips.

Make sure the FAFSA is complete

You would think having a completed FAFSA on file would be a given, but it’s not. I’ve worked in a financial aid office for a few years now and at the beginning of every semester I talk with a few non-traditional students who have yet to complete their FAFSA. Some of those students claim that they are too busy with work and claim to forget to do it. For others, this is their first time in college, so they didn’t know about it. If you want to receive any federal funds you want to make sure that you complete your FAFSA. It takes less than an hour to complete. Once it’s processed, it shows you if you qualify for loans and grants.

Review your award and accept

After you complete your FAFSA, you will be awarded. Many students are typically awarded the Subsidized and Unsubsidized loans and the Pell grant. Other money that a student may receive is the Perkins loan (if the university offers it) and the SEOG grant. Review your award letter and accept the student loans if you need them.

During my time as a financial aid counselor, I’ve seen that the majority of non-traditional students are awarded more loans than any other type of aid. That’s because many of them either have an undergrad degree, or they are working on degree number two or three. The undergrad limit for student loans is $57,500. That’s a lot of money to have to pay back.

Pay

If you choose not to accept your student loans, you can pay for your classes yourself. Everyone may not be able to do that, but if you can, go for it. By doing that, you don’t have to worry about student loan debt. Many schools offer a payment plan. You have to pay a percentage of the tuition by the payment deadline; then you can pay the rest before the semester is over. That is another way to lower the risk of having student loan debt

Scholarships

Non-traditional students can also look for scholarships. Scholarships are free money that you don’t have to pay back. Scholarship money can be used not only for tuition but covering your living expenses, courses, books, and outside assistance with your academic papers. The main thing is to choose a reliable helper and avoid services as Unemployed Professors. Spending scholarships wisely will help you cover a pile of your needs. Many non-traditional students believe that because they are older that they can’t receive scholarships. While that may be true for some, not all scholarships are like that. Check with your financial aid office and see what options are out there.

Tuition Reimbursement

Many non-traditional students work full-time. Did you know that your job may help you pay for school? Many companies offer some sort of tuition assistance to their employees. Requirements to receive the money are different for each company as well as the amounts. Check with your employer today to see if they offer tuition reimbursement.

Going back to school is a good thing. I’m a fan of continuous learning. Knowledge truly is power. I want every student to have a smooth first day of class. You shouldn’t have to worry about financial aid issues.

How Financial Secrets Can Ruin A Relationship

Posted on August 12, 2016 - 6:30 am by Jason Butler 1

relationship advice, relationship tips, financial advice

What do you think when you hear about people keeping secrets from their husband or wife? You probably don’t think anything good. I know I don’t. Imagine if the secrets are about money or money related issues. That could cause a plethora of problems in any relationship. Financial secrets have been known to ruin quite a few relationships in more than one way.

Trust

Relationships are built on trust. If you don’t have that, you can pretty much consider your relationship over. Finances are a touchy subject for some people, but if you’re in a serious relationship, you must take the time to discuss them. If you’re hiding something money related from your significant other, they may wonder what else you’re hiding. Whether it’s debt or other accounts, you should talk to your spouse about it. Your relationship could very well depend on it.

Financial secrets can have you second guessing a lot of stuff in your relationship. If your spouse has a lot of debt that he or she failed to mention, they might have a serious spending problem. Knowing things like that, in the beginning, could help you avoid potential heartache. Once you’re married, that debt isn’t just his or hers anymore, it’s both of yours. Everyone isn’t able to handle something like that. Before either one of you is in a situation like that be upfront and honest about your finances.

Disrupt your life

Financial secrets can disrupt your life. If one of you have a spending problem, it can mess up all of your accounts. For example, imagine that you’re using a joint account to pay some bills at the beginning of the month. If your significant other uses all the money in the account to buy some fancy shoes or clothes, that would be a big problem. You wouldn’t have any cash in that account to pay your bills which are much more important than clothes. That would cause a huge inconvenience. Using the joint account without your spouse’s knowledge isn’t cool. That would make almost anyone mad.

Financial secrets can also have one partner carrying more of the financial load than they initially thought. Every couple is different when it comes to finances. To make sure you and your partner are on the same page, discuss what you will both pay for each month.

What can you do to prevent this type of problem?

The main thing that you can do is not have any financial secrets between the two of you. In a perfect world, everyone would follow that advice. No one would hide anything from their spouse. Unfortunately, that’s not the case. Some people hide and keep thigs from their loved one because they are ashamed. They don’t want them to know that they have money problems. To possibly overcome those problems and keep the relationship, you should discuss everything with them. It may not be easy, but you will be so glad that you did.

Is there ever a reason why someone should keep a financial secret from their partner?

My Thoughts on The Debt Snowball Method

Posted on August 10, 2016 - 6:30 am by Jason Butler 1

debt snowball method, thoughts on debt snowball method, paying off debt tips

Many people including myself are in debt. The amount of debt that people are in may differ, but many of us want to eliminate that debt as soon as possible. During the last 3-4 years, I’ve read at least 60 stories where people have paid off their debt. Those stories motivated me to finally get started with paying on my debt. I saw people paying on their debt using several different methods. I found one that intrigued me more than any of the others. It was called the debt snowball method.

The debt snowball method is a way of paying off your debt that was made popular by Dave Ramsey. He wrote a book about it called The Total Money Makeover. With the debt snowball method, you list your debts in order from smallest to largest. You make the minimum payment on all of the debts except the smallest. You then put as much money on the minimum as possible. Once that debt is paid off, take the money that you used to pay that one and combine it with the minimum payment of the next smallest one. As you continue to do this with every debt, the payment amounts will keep getting bigger. This creates a snowball effect. Below is an example of the method. This person has three debts.

Credit Card A – $100 balance ($25 minimum payment)

Credit Card B – $300 balance ($25 minimum payment)

Student Loan $1000 balance ($50 minimum payment)

Imagine that this person is applying an extra $25 to credit card “A” each month. That card would be paid off after month number two. The $50 that was going toward credit card “A” will now be added to credit card “B,” thus making the new payment amount $75 per month. Credit card “B” would then be paid off after month number six. Now you add the $75 payment to the $50 for the student loan payment. Now you are paying $125 on the student loan. This loan will now be paid off after month number 12. In one year the snowball method has allowed you to pay of three debts. Of course, the higher the debt is, the longer it will take. The point that I’m trying to make is to show people that this method works.

I’ve been using the debt snowball method since January 2015. During that time, I’ve been able to eliminate three of my debts. Another one will be gone before the year is up. For me, I will say that it has been working. I’m the type of person that needs to see things getting smaller. As the debts are being paid off, I can see the snowball getting bigger.

I’d suggest the debt snowball method to anyone that is attempting to pay off debt. It’s easy and simple to start. Some people like paying the debts with the highest interest first, I understand why they might do it, but I’m a fan of seeing small wins. The snowball method allows you to see them.

For more information about the snowball method, you may want to check out Dave Ramsey’s website.

Have you used the debt snowball method before? Did it help you eliminate your debt quicker?

Should You Start a Home Based Business

Posted on August 8, 2016 - 6:30 am by Jason Butler

home-based business advice, business tips, starting a business advice

Hello, Dinks. I hope all is well with you. Today’s post should be interesting. Many couples are getting tired of the 9-5 lifestyle. They dream of the day where they can provide for their family without having to clock in and clock out every day. This idea has crossed my mind quite a few times. Some people start a side hustle while they are still working for someone else. Once they are making a certain amount of money, they take the leap and become full-time entrepreneurs. There are numerous businesses that people can create. Many people decide to start a home based business. How do you know if a home-based business is for you?

Are you in it to win it?

If you are thinking about starting a home based business, you have to ask yourself are you in it to win it? For your home based business to be a success, you have to be ready to put in the work. Depending on the business, you will be working longer than a regular work shift most days. If the thought of it doesn’t motivate you, you may just need to keep the idea as a side hustle. For your home business to work you have to have the drive to get through the good and the bad days.

Type of business

When coming up with a home based business, you have to figure what kind of business you want to have. Make sure that you find a good market of customers that will be interested in your product or services. Network with those people and satisfy their needs. If you do that, I’m sure your business will grow in no time.

Space

The next thing you should consider is the amount of space that you have in your home. Some businesses need more space than others. For example, it would be hard to have a successful eBay business if you live in a studio apartment. Having more space allows you to organize your business. The more space that you have, the better.

Also, make sure that your spouse approves of you using that extra space (guest bedroom) for your business. With anything, communication is the key. The right kind of workspace will eliminate distractions that you might have. Even though you are at home, you have to remember that you are running a business. You must stay focused.

Products

If your home business sells products, make sure that you believe in them. When you are selling something that you believe in, you will work harder and promote the products much better. You should find manufacturers that have the type of policies and values that you can stand behind. If you are creating your own product, make sure that it is the very best and that it represents you well.

You have to ask yourself the above questions if you are interested in a home based business. It is something that many people pursue. Unfortunately, everyone isn’t successful in their endeavors. This article has provided a few tips that should help you to become a success.

4 Ways to Save on Transportation Costs

Posted on August 5, 2016 - 6:30 am by Jason Butler 1

transportation costs, saving on transportation, transportation tips

Transportation costs can be expensive depending on where you live or where you’re going. You don’t have to spend an arm and a leg, though. You can save some money on transportation costs if you know what you’re doing. In this post, I will be going over four ways that you can save on those costs.

Public transportation

Depending on where you live, public transportation can be your best friend. In places like New York City and Washington DC, it makes more sense to use public transportation at times than to drive. There are way too many people that live in or near those places. The rush hour in those cities is terrible. Using public transportation will save you money and stress. I know firsthand that using the trains in many large cities will get you to your destination quicker than driving would.

Fly to a hub city

When you are flying, it’s best to fly into a hub city. Even if you aren’t going to a big city, it may be better to fly into one and then drive to your destination. For example, let’s say you’re flying to Montgomery, Alabama from Los Angeles, California this upcoming October. It would cost you $444 roundtrip. If you decided to fly from Los Angeles to Atlanta, the flight would cost $315. That’s a $129 price difference. Montgomery is only two hours away from Atlanta. You could get a cheap rental car, drive there and still pay less than the $444.

Buses or Trains

Depending on where you’re traveling to, flying may be too expensive for you. If you have some extra time, you should look into using the bus or the train. Both options typically have good deals. With Megabus growing more as a company, Greyhound has updated their fleet and lowered some prices to keep up with them. Last year, I was able to take a bus to Charlotte for $45 round trip. A flight would have been nearly five times that amount. When you get a chance, you should also sign up for the e-mail newsletters for Megabus, Greyhound, and Amtrak. They will alert you of any upcoming deals.

Telecommute

The last was to save on transportation costs is to telecommute. This is something that I wish I could do, but unfortunately, working from home isn’t an option for me right now. If it was, I’d save money on gas and monthly parking. Other ways that you save money by telecommuting is by not having to go out for lunch with coworkers, not having to purchase work clothes, deal with car maintenance and wasting time.

Time is huge for all of us. It’s something that none of us can get back. When telecommuting, you won’t be wasting hours stuck in traffic anymore. All of us should be able to agree that that would be wonderful. That time that was previously spent in traffic could be used to do a lot of things such as exercise or relax with your significant other for a longer time.